Invoice processing is labor intensive, involving manual extraction of vendor invoice data into systems like SAP.
It costs businesses $15 - $40 per invoice and can take up to 90 days to complete. Manual data input leads to payment delays due to data entry errors.
Additionally, inconsistent invoice formats pose challenges for automation in document processing.
The automation + generative AI solution.
- Intelligent Automation and generative AI enhance efficiency and save time.
- Automation Success Platform enables end-to-end Invoice processing, with generative AI flagging discrepancies between invoices and ERP forms. Accounts Payable staff can swiftly verify and advance the workflow within the app. ERP data entry is automated, and generative AI generates personalized emails to vendors.
- Additionally, automation updates the finance dashboard to track savings and ROI impact for finance leaders.
Business impact & outcome.
average cost savings for invoice processing
supplier discounts captured
improvement in productivity
More effective invoice processing with generative AI
Slash costs by 40% using Intelligent Automation
Analyst uses Automation Co-Pilot to kick off invoice processing
- Payment information
- Vendor data
Automation accesses data stores
Generative AI synthesizes, understands context, verification and approval
- Fraud detection
- Invoice matching
- Route for approvals
- Initiate payment processing
AP system updated with reconciled data
Vendor receives payment in time